RBC Capital Markets Raises Adobe Systems (ADBE) Price Target To $46

RBC Capital Markets analysts Robert Breza, Matthew Hedberg and Dan Bergstrom raised their price target for shares of Adobe Systems Incorporated (Nasdaq: ADBE) from $43 to $46 and maintained their Outperform rating for the stock.

The analysts said that the integration of Omniture was going well and that it contributed revenue of $87.7 million during the first full quarter of reporting, compared to the analyst's estimate of $80.5 million.

They said that since the restructuring that took place last quarter, Adobe Systems should be the right size.

The RBC Capital Markets analysts wrote, "We maintain our Outperform rating and increase our price target to $46 as Adobe remains one of our favorite large-cap software names heading into several product cycles that should serveas catalysts over the next several quarters."